Two Pak banks to open India branches

[cloud_9]

Two Pak banks to open India branches

Islamabad: Following India's move to allow investments from the neighbouring country, Pakistan's central bank has allowed two banks to open branches in India as part of efforts to normalise economic and trade relations between the two countries.
State Bank of Pakistan (SBP) Governor Yasin Anwar told the media that the National Bank of Pakistan and the United Bank Ltd had been given the "green signal" to operate in India.

Anwar's remarks came in the wake of India's decision to allow investments by Pakistanis in all sectors except defence, space and atomic energy.

He said the Reserve Bank of India had been informed of SBP's decision of allowing the Pakistani banks to explore opportunities in India.

In a major decision, India on Wednesday allowed investment from Pakistan paving way for Islamabad to normalise bilateral economic ties by implementing much-delayed Most Favoured Nation (MFN) status for New Delhi.

India's move to allow Pakistani investments has been welcomed by businessmen on both sides of the border.

Earlier this year, Pakistan switched over to a negative list regime for trade with India, paving the way for giving the Most Favoured Nation-status to the neighbouring country.

However, recent reports have indicated that Pakistan has decided to link progress in normalising trade relations to the resolution of other issues, like the Kashmir issue and the Sir Creek border dispute.

Trade between India and Pakistan is worth a little more than USD 2 billion dollars and the two sides have agreed to increase it to USD 6 billion dollars by 2014.

Hopefully this will boost cross border trade.

 

[Orange]

I was thinking?????? who would open account in these banks?

 

[karan.1970]

I was thinking?????? who would open account in these banks?

Someone who would want to get investigated by ATS

 

[Leader]

Pakistani investors are now allowed to invest in India, but same is not true for the indian investors...

I think India should adopt a more liberal policy towards trade with Pakistan...

where there is flow of money there is liberalization...

 

[Manas]

I was thinking?????? who would open account in these banks?

Pakistanis living in India .We have no dearth of them. Indian Mujahidin will be the first client.

 

[Orange]

Now, Pakistan can officially deal in Indian counterfeit currencies from these banks.

 

[cloud_9]

I was thinking?????? who would open account in these banks?

Cross border traders and there are a lot of them waiting for such facilities.

Pakistani investors are now allowed to invest in India, but same is not true for the indian investors...

Any source ???

 

[Jackdaws]

I was thinking?????? who would open account in these banks?

Probably investment banks which will represent the needs of Pakistani investors looking to invest in various Indian sectors. Could be mutual funds too. I don't think they are looking at opening branches for day-to-day banking needs of Indians.

 

[Leader]

Cross border traders and there are a lot of them waiting for such facilities.

Any source ???

BBC News - India allows Pakistan investment

 

[third eye]

Security of these premises shall be a concern.

They just might become the sounding board for all protests.

The same would be applicable to Indian banks across - whenever they open.

 

[Peaceful Civilian]

Nice to see trust is increasing with time. Good future for trade and nice relation.

 

[xyxmt]

Someone who would want to get investigated by ATS

definitly not indian, they will need to take a shower before coming inside the branch

Security of these premises shall be a concern.

They just might become the sounding board for all protests.

The same would be applicable to Indian banks across - whenever they open.

we are not as narrow minded as you are, we have had international banks all over Pakistan for last 60 years, its something new for you guys say in last 15 years or so, maybe be 5 more years and you will get used to it and wont protest anymore, good to see indian people progress with india.

by the way, you have no idea whats coming to you hehehehe
these are ISI managed branches

 

[itduzz]

Finally the Muslims in India get some relief.

 

[karan.1970]

Finally the Muslims in India get some relief.

 

[Viper0011.]

Someone who would want to get investigated by ATS

I'll be honest here, posts like these and the above (and many other) show the real side of India I believe. This is a chance to normalize over decades long old history filled with conflicts and the best you guys can do is to just bash it?

Boosting economic trade will eliminate the threat to get into a nuclear exchange and will result in human prosperity in the region. I think as humans, we should cherish that. That may be one of the first steps towards tearing a Berlin wall type of a situation, resulting in ending long standing conflicts.